Scenario Granite File raises this Florida point. In a Tallahassee transaction, a closing coordinator wants the Florida rule on lot-and-block. Which statement is correct?
Correct Answer
A) A condominium legal description typically identifies the unit and the declaration or book-and-page references rather than only a street address.
A condominium legal description typically identifies the unit and the declaration or book-and-page references rather than only a street address. This follows Florida surveying/title practice; Pearson VUE Florida Sales Associate CIB.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
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A Florida HOA can foreclose for unpaid assessments:
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A Florida real estate agent is preparing a listing agreement for a waterfront property in Miami-Dade County. The property deed references 'Lot 15, Block 3, Ocean View Subdivision, according to the plat thereof recorded in Plat Book 42, Page 18, of the Public Records of Miami-Dade County, Florida.' What type of legal description is being used?